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By: African News Agency 15th August 2017
The Organisation Undoing Tax Abuse (Outa) has laid a criminal complaint with the police against former Eskom director, Mark Pamensky. Outa chief operating officer Ben Theron on Tuesday said the charges related to Pamensky’s conduct while at Eskom and a business ”linked to the Gupta business empire.” →

By: Terence Creamer30th May 2017
Business Unity South Africa (Busa) has heavily criticised what it describes as Eskom’s request for a “blanket condonation” from the National Energy Regulator of South Africa (Nersa) to deviate from the multiyear price determination (MYPD) methodology and minimum information requirements for... →

By: Terence Creamer12th May 2017
Public Enterprises Minister Lynne Brown has defended her decision to accept the Eskom board’s much-criticised recommendation that Brian Molefe be reinstated as CEO and see out his five-year contract to 2020 on the basis that it offered “better value” than the alternative of paying him a... →

By: Terence Creamer13th April 2017
Department of Public Enterprises director-general Mogokare Seleke revealed on Thursday that Eskom’s legal representatives had approached Tegeta Resources, owner of the Optimum coal mine, to obtain “consent” in making details of a recent arbitration settlement, relating to a R2.2-billion penalty... →

By: Terence Creamer26th January 2017
Mining group Exxaro says it will be guided by Eskom on the future of the Arnot coal mine, in Mpumalanga, which was closed after Eskom’s contentious December 31, 2015, decision not to renew a 40-year coal supply agreement (CSA) with Arnot, an Eskom-tied mine operated by Exxaro. The termination of... →

By: Terence Creamer4th November 2016
The Eskom board reported on Friday that it was taking legal advice on “inconsistencies” in the Public Protector’s ‘State of Capture’ report, including whether or not to take the report on legal review. The board also insisted that all directors had declared conflicts of interest, complied with... →

By: Terence Creamer3rd November 2016
Eskom CEO Brian Molefe has indicated that he is weighing his future options as head of the State-owned electricity producer following the release of a Public Protector report, which raises serious questions about his role in facilitating a coal deal involving Tegeta, a mining company linked to... →

By: Martin Creamer3rd November 2016
In light of the extensive financial analysis conducted, it appears that the sole purpose of awarding contracts to Tegeta to supply Arnot power station was to fund Tegeta and enable it to purchase all shares in Optimum Coal Holdings (OCH). The only entity which appears to have benefited from... →

By: News24Wire 3rd November 2016
A series of unused flights during a "mysterious" trip abroad by Mining Minister Mosebenzi Zwane, during which he allegedly escorted a member of the Gupta family to a meeting with an international mining company, may have cost taxpayers nearly R100 000 in possibly fruitless or wasteful... →

By: Bloomberg12th September 2016
Vitol Group’s plans to buy a stake in Africa’s biggest coal terminal from a company controlled by South Africa’s Gupta family, who are friends of President Jacob Zuma, could be thwarted by the preemptive rights held by existing shareholders in the export facility, people familiar with the matter... →

By: Bloomberg8th September 2016
Oakbay Investments, owned by the Gupta family, signed a contract to export power-plant coal at a premium to what it gets from South Africa’s electricity utility, CEO Nazeem Howa said. “We signed our first export contract this week,” Howa said on a conference call Thursday. “The value of the... →

By: Bloomberg2nd September 2016
Swiss commodities trader Vitol Group is interested in buying a stake in South Africa’s Richards Bay Coal Terminal from a company controlled by the Gupta family, according to a person with knowledge of the matter. Buying the stake in Africa’s biggest coal export facility from Optimum Coal Holdings... →

By: Terence Creamer29th August 2016
The National Treasury has strongly disputed Eskom’s contention that it has been cooperating with its review of coal contracts involving the Gupta-family-linked Tegeta Exploration and Resources, indicating rather that its “efforts have met resistance” from the utility. It also disputed Eskom’s... →

By: Terence Creamer19th April 2016
State-owned electricity utility Eskom has moved to challenge ongoing media reports suggesting that the company has been “captured by politically connected families and individuals” and has also called on its former chairperson to approach the law enforcement agencies if he has any information... →

By: Terence Creamer14th April 2016
The joint business rescue practitioners of Optimum Coal Holdings announced on Thursday that all outstanding obligations in respect of the sale of the assets of Optimum Holdings to Tegeta Exploration & Resources had been performed and that the transaction would become effective on April 15. Joint... →

By: Terence Creamer8th April 2016
The business rescue plan for Optimum Coal Holdings was approved on Friday after the majority of creditors adopted the plan at a meeting of affected parties in Johannesburg. Joint business rescue practitioners Piers Marsden and Peter van den Steen said the plan was binding on all parties and that... →

By: Megan van Wyngaardt2nd February 2016
Optimum mine and Optimum Coal Holdings’ joint business rescue practitioners (BRPs) Piers Marsden and Peter van den Steen said on Tuesday that there had been “a number of factual inaccuracies” in a recent media report on the ongoing Endulwini Mining offer.
The BRPs said that the report... →

By: Megan van Wyngaardt5th August 2015
Mineral Resources Minister Ngoako Ramatlhodi says international mining giant Glencore should have looked at alternatives to retrenchments, including shifting workers to vacancies in other operations, before considering the potential retrenchment of about 1 000 workers. The Department of Mineral... →

By: Martin Creamer4th August 2015
Financially stricken Optimum Coal has been hit by a double whammy – huge potential penalty claims from State electricity utility Eskom plus a suspension of its mining licence by the Department of Mineral Resources (DMR) for alleged inhumane retrenchment. In the face of these latest setbacks,... →

By: Martin Creamer4th August 2015
Business rescue proceedings are to begin at both Optimum Coal Holdings and Optimum Coal Mine after attempts to renegotiate a 22-year-old lossmaking supply agreement with Eskom ended in the State electricity utility asserting its rights to past and future penalty claims.
The penalties sought... →

By: Natalie Greve3rd May 2013
The newly formed Glencore Xstrata has confirmed that integration initiatives are under way, with clear leadership and reporting lines already in place and an industrial asset portfolio review currently in progress. The combination of commodities trader Glencore and producer Xstrata created a... →

6th June 2012
JSE-listed coal miner Keaton Energy appointed Rowan Karstel as its CEO to succeed Paul Miller with effect from July 1.
Kastel is the former chief project officer of South Africa's sixth-largest thermal coal miner, Optimum Coal Holdings. He was responsible for the development and execution of... →

28th March 2012
The Optimum Community Trust unveils a new and revolutionary programme that seeks to change mental models, challenge mathematics phobias entrenched over a period of time, introduces new ways of stimulating learning and teaching to involve holistic development thus breaking psychological barriers... →